Registered number
07586897
Thomas Peck Limited
Filleted Accounts
30 June 2023
Thomas Peck Limited
Registered number: 07586897
Balance Sheet
as at 30 June 2023
Notes 2023 2022
£ £
Current assets
Stocks 29,460 40,036
Debtors 5 4,255 5,047
Cash at bank and in hand 11,967 54,467
45,682 99,550
Creditors: amounts falling due within one year 6 (11,070) (14,976)
Net current assets 34,612 84,574
Net assets 34,612 84,574
Capital and reserves
Called up share capital 1 1
Profit and loss account 34,611 84,573
Shareholder's funds 34,612 84,574
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
S C Thomas
Director
Approved by the board on 8 March 2024
Thomas Peck Limited
Notes to the Accounts
for the year ended 30 June 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 33% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Intangible fixed assets £
Goodwill:
Cost
At 1 July 2022 4,137
At 30 June 2023 4,137
Amortisation
At 1 July 2022 4,137
At 30 June 2023 4,137
Net book value
At 30 June 2023 -
Intangible assets are being written off in equal annual instalments over its estimated economic life of 3 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 July 2022 4,116
At 30 June 2023 4,116
Depreciation
At 1 July 2022 4,116
At 30 June 2023 4,116
Net book value
At 30 June 2023 -
5 Debtors 2023 2022
£ £
Other debtors 4,255 5,047
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 10,345 6,771
Taxation and social security costs - 6,991
Other creditors 725 1,214
11,070 14,976
7 Other information
Thomas Peck Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 504
101 Clerkenwell Road
London
EC1R 5BX
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